[woodruffw]

Zelle's job is arguably to abstract over banks; the fact that they pretend to do instant settlement by using debit transactions (which are then subject to all kinds of weird per-bank and per-network limitations) means that they fail at this basic task.

[lotsofpulp]

Isn't Zelle one network already, that the big banks got together and made to provide a better experience than ACH?

Presumably, the limits are set by each bank (for their own customers). For example, BoA has these:

https://www.bankofamerica.com/online-banking/zelle-transfer-...

There is no limit to receive, but if you want different limits for sending, then perhaps you should change banks? Although, the above limits seem pretty generous for an instant, non reversible transfer of money.

If you want to instantly transfer more than, say, $15k, then presumably you would want more reversibility.

[woodruffw]

> Isn't Zelle one network already, that the big banks got together and made to provide a better experience than ACH?

Zelle is lying when it says that it's a "network." All it does is shoot debit payments between supported banks; it's not doing any settlement on its own. The fact that it can be pushed around/constrained by each bank shows this.

> There is no limit to receive, but if you want different limits for sending, then perhaps you should change banks? Although, the above limits seem pretty generous for an instant, non reversible transfer of money.

I bank with a large investment bank that otherwise has excellent service (as in, "a human picks up the phone anytime of day" levels of service). I'm not going to drop them because Zelle fails to abstract over them correctly; every other third party payment app does this correctly.

> If you want to instantly transfer more than, say, $15k, then presumably you would want more reversibility.

My bank's Zelle limit is well below $15k per month, not even day. And to be clear: I don't personally care about instant settlement; I'm forced to use Zelle.

[adrr]

Zelle doesn't control what limits your bank puts around electronic transfers. My bank let's me do $5k a day on zelle.